Ecmc Group Inc

Ecmc Group Inc Overview

Ecmc Group Inc is located in Minneapolis, MN. The organization was established in 2001. According to its NTEE Classification (B02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Education and related organizations. As of 12/2019, Ecmc Group Inc employed 332 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 12/2019, Ecmc Group Inc generated $361.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $167.7m during the year ending 12/2019. While expenses have increased by 2.0% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2014, Ecmc Group Inc has awarded 45 individual grants totaling $1,367,981,677. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

ECMC GROUP, INC. SUPPORTS EDUCATIONAL CREDIT MANAGEMENT CORPORATION AND ECMC EDUCATION, INC. (FORMERLY ZENITH EDUCATION GROUP, INC.). ECMC GROUP, INC. SUPPORTS THE FURTHERANCE OF THE EXEMPT PURPOSE OF EDUCATIONAL CREDIT MANAGEMENT CORPORATION AND ECMC EDUCATION, INC. (FORMERLY ZENITH EDUCATION GROUP, INC.) BY PROVIDING SERVICES THAT HELP STUDENTS RECOGNIZE AND REALIZE THEIR POTENTIAL BY INVESTING IN, CREATING AND PROVIDING INNOVATIVE EDUCATION SOLUTIONS THAT SUPPORT SCHOOLS AND IMPROVE STUDENT EDUCATIONAL OUTCOMES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

LOAN PORTFOLIO SERVICING: ECMC GROUP, INC. AND OAKDALE STUDENT LOAN FUNDING, LLC (OAKDALE), A WHOLLY OWNED SUBSIDIARY OF ECMC GROUP, INC., HAVE ELIGIBLE LENDER TRUST (ELT) AGREEMENTS WITH MANUFACTURERS AND TRADERS TRUST COMPANY. MANUFACTURERS AND TRADERS TRUST COMPANY SERVES AS THE ELT FOR ECMC GROUP, INC. AND OAKDALE. THROUGH THE ELTS, ECMC GROUP, INC. AND OAKDALE PURCHASE FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP) REHABILITATED STUDENT LOANS FROM EDUCATIONAL CREDIT MANAGEMENT CORPORATION, A RELATED ENTITY, AND OTHER GUARANTY AGENCIES IN ORDER TO ENSURE THAT STUDENT LOAN BORROWERS CAN REALIZE THE FULL BENEFITS AFFORDED THEM UNDER 34 CFR SEC. 682.405. PATRIOT STUDENT LOAN CAPITAL, LLC (PATRIOT) HAS INTERIM ELIGIBLE LENDER TRUST AGREEMENTS WITH MANUFACTURERS AND TRADERS TRUST COMPANY. ECMC GROUP STUDENT LOAN TRUST 2016-1 (TRUST 2016-1), ECMC GROUP STUDENT LOAN TRUST 2017-1 (TRUST 2017-1), ECMC GROUP STUDENT LOAN TRUST 2017-2 (TRUST 2017-2), ECMC GROUP STUDENT LOAN TRUST 2018-1 (TRUST 2018-1), ECMC GROUP STUDENT LOAN TRUST 2018-2 (TRUST 2018-2) AND ECMC GROUP STUDENT LOAN TRUST 2019-1 (TRUST 2019-1), COLLECTIVELY (THE TRUSTS), HAVE ELIGIBLE LENDER TRUST AGREEMENTS WITH MANUFACTURERS AND TRADERS TRUST COMPANY. MANUFACTURERS AND TRADERS TRUST COMPANY SERVES AS THE INTERIM ELIGIBLE LENDER TRUST (INTERIM ELT) FOR PATRIOT AND AS ELIGIBLE LENDER TRUST (ELT) FOR TRUST 2016-1, TRUST 2017-1, TRUST 2017-2, TRUST 2018-1, TRUST 2018-2 AND TRUST 2019-1. THROUGH THE INTERIM ELT, PATRIOT PURCHASES FFELP REHABILITATED STUDENT LOANS FROM ECMC GROUP, INC. AND OAKDALE AND RESELLS THE LOANS THROUGH THE ELT TO THE TRUSTS. THE TRUSTS ISSUED CLASS A NOTES SECURED BY THE RESPECTIVE STUDENT LOAN PORTFOLIOS. TRUST 2018-1 ALSO ISSUED CLASS B NOTES TO ECMC GROUP, INC. THE TRUST 2018-1 CLASS B NOTES ARE SUBORDINATED TO THE TRUST 2018-1 CLASS A NOTES.


ECMC GROUP, INC. SUPPORTS THE FURTHERANCE OF THE EXEMPT PURPOSE OF EDUCATIONAL CREDIT MANAGEMENT CORPORATION, ECMC EDUCATION, INC. (FORMERLY ZENITH EDUCATION GROUP, INC.), AND ECMC FOUNDATION BY PROVIDING SERVICES THAT HELP STUDENTS RECOGNIZE AND REALIZE THEIR POTENTIAL BY INVESTING IN, CREATING AND PROVIDING INNOVATIVE EDUCATION SOLUTIONS THAT SUPPORT SCHOOLS AND IMPROVE STUDENT EDUCATIONAL OUTCOMES. $43,500,000 CONTRIBUTIONS MADE TO ECMC EDUCATION, INC. (FORMERLY ZENITH EDUCATION GROUP, INC.) TO SUPPORT ITS MISSION TO HELP STUDENTS SUCCEED IN THEIR PURSUIT OF AN EDUCATIONAL EXPERIENCE THAT PREPARES THEM FOR THE WORKFORCE.


THROUGH THE PUBLIC POLICY PROGRAM, ECMC GROUP, INC. SHARES INFORMATION AMONG ECMC GROUP-RELATED MEMBERS ON LEGISLATIVE PROPOSALS AND GOVERNMENTAL REGULATIONS THAT IMPACT THEIR OPERATIONS. THE PROGRAM ENABLES ECMC GROUP, INC. AFFILIATES TO MONITOR PUBLIC POLICY MATTERS AND PROVIDE NONPARTISAN ANALYSIS AND RESEARCH TO POLICYMAKERS, THOUGHT LEADERS AND THE GENERAL PUBLIC.


GRANTS AND SPONSORSHIPS SUPPLIED BY ECMC GROUP, INC. TO SCHOOLS AND INDIVIDUALS IN SUPPORT OF ITS TAX-EXEMPT PURPOSE.


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Ecmc Group Inc Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Former Director
$0

Ecmc Group Inc Vendors

Vendor Name (Service)Compensation
Navient Solutions Inc
Loan Portfolio Servicing
$4,041,484
Emc Corporation
It Professional Services
$3,725,981
Cdw
It Support Services
$1,406,979
Amazon Web Services Inc
It Support Services
$1,836,217
Ahead Llc
It Support Services
$1,491,276
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$202,597,584
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$202,597,584
Total Program Service Revenue$105,417,773
Investment income $8,672,036
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $40,666,317
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $361,718,874

Ecmc Group Inc Grants Awarded

Over the last fiscal year, Ecmc Group Inc has awarded $43,746,381 in support to 10 organizations.

Grant RecipientAmount

ECMC EDUCATION INC (FORMERLY ZENITH EDUCATION GROUP INC)

Org PageRecipient Profile

Minneapolis, MN

PURPOSE: General Support

$43,500,000

THE OHIO STATE UNIVERSITY FOUNDATION

Org PageRecipient Profile

Columbus, OH

PURPOSE: Edward H. Jennings Scholarship Fund

$100,000

JUNIOR ACHIEVEMENT OF THE UPPER MIDWEST INC

Org PageRecipient Profile

St Paul, MN

PURPOSE: Community Outreach Grant and Program Support

$45,000

Brooklyn Park, MN

PURPOSE: Program Support

$25,885

CRISTO REY CORPORATE INTERNSHIP

Org PageRecipient Profile

Minneapolis, MN

PURPOSE: Work Study Program Sponsorship

$20,371

JUNIOR ACHIEVEMENT OF SACRAMENTO INC

Org PageRecipient Profile

Sacramento, CA

PURPOSE: Program Support

$15,125
View Grant Profile

Ecmc Group Inc Grants Recieved

Over the last fiscal year, we have identified 1 grants that Ecmc Group Inc has recieved totaling $50,000.

Awarding OrganizationAmount
Ecmc Foundation

Minneapolis, MN

PURPOSE: Education Innovation Ventures

$50,000
View Grant Recipient Profile

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